Looking to diversify beyond NWZNX? The mutual funds below have historically moved differently from NWZNX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for NWZNX
2 mutual funds have low correlation with NWZNX (below 0.3), 0 of which are negatively correlated. The least correlated is Nationwide Strategic Income A (NWXEX) (Multisector Bonds) with a 1Y correlation of 0.21, up from -0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Strategic Income A | 0.21 | 0.07 | -0.01 | 99 | Multisector Bonds | NWZNX vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.25 | 0.11 | 0.01 | 99 | Multisector Bonds | NWZNX vs NWXHX | |
| ICON Equity Fund | 0.54 | 0.57 | 0.69 | 80 | Large Cap Growth Equities | NWZNX vs IOLZX | |
| Nationwide Mid Cap Market Index Fund | 0.55 | 0.64 | 0.73 | 50 | Mid Cap Blend Equities | NWZNX vs GMXAX | |
| Nationwide International Index Fund | 0.62 | 0.62 | 0.68 | 63 | Foreign Large Cap Equities | NWZNX vs GIIAX |
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